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Innovator US Equity Buffer ETF November
BNOV

83 hedge funds and large institutions have $116M invested in Innovator US Equity Buffer ETF November in 2025 Q1 according to their latest regulatory filings, with 9 funds opening new positions, 14 increasing their positions, 28 reducing their positions, and 9 closing their positions.

New
Increased
Maintained
Reduced
Closed

0% more first-time investments, than exits

New positions opened: 9 | Existing positions closed: 9

1% less funds holding

Funds holding: 84 → 83 (-1)

2.1% less ownership

Funds ownership: 77.7% → 75.61% (-2.1%)

10% less capital invested

Capital invested by funds: $129M → $116M (-$13M)

50% less repeat investments, than reductions

Existing positions increased: 14 | Existing positions reduced: 28

Holders
83
Holders Change
-1
Holders Change %
-1.19%
% of All Funds
1.11%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
9
Increased
14
Reduced
28
Closed
9
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
PCM
Penserra Capital Management
California
+$2.66M
2
BCM
Brookstone Capital Management
Illinois
+$1.75M
3
Susquehanna International Group
Susquehanna International Group
Pennsylvania
+$867K
4
AWA
Arkadios Wealth Advisors
Georgia
+$798K
5
Citadel Advisors
Citadel Advisors
Florida
+$378K

Top Sellers

Rank Fund Capital Flow
1
WIM
WealthPlan Investment Management
Nebraska
-$6.68M
2
WP
WealthPLAN Partners
Nebraska
-$3.86M
3
GAA
Global Assets Advisory
Florida
-$3.35M
4
VBFP
Valtinson Bruner Financial Planning
Minnesota
-$725K
5
KF
Krilogy Financial
Missouri
-$479K
Name Holding Trade Value Shares
Change 		Change in
Stake
OMC
26
Old Mission Capital
Illinois
$897K +$36.2K +918 +4%
Susquehanna International Group
27
Susquehanna International Group
Pennsylvania
$840K +$867K +22,005 New
Cambridge Investment Research Advisors
28
Cambridge Investment Research Advisors
Iowa
$808K – – –
AWA
29
Arkadios Wealth Advisors
Georgia
$773K +$798K +20,246 New
FCFC
30
First Commonwealth Financial Corp
Pennsylvania
$746K -$6.15K -156 -0.8%
BMM
31
Berkshire Money Management
Massachusetts
$742K – – –
RA
32
RFG Advisory
Alabama
$742K -$99.9K -2,535 -12%
BEI
33
Benjamin Edwards Inc
Missouri
$741K – – –
Janney Montgomery Scott
34
Janney Montgomery Scott
Pennsylvania
$699K – – –
BBPWM
35
Blue Bell Private Wealth Management
Pennsylvania
$638K +$6.94K +176 +1%
CIA
36
Concurrent Investment Advisors
Florida
$625K +$8.67K +220 +1%
SCA
37
Snowden Capital Advisors
New York
$602K – – –
FA
38
FSA Advisors
Michigan
$562K +$262K +6,657 +83%
AAP
39
Arax Advisory Partners
Colorado
$542K -$7.88K -200 -1%
ML
40
McAdam LLC
Pennsylvania
$530K – – –
PS
41
Principal Securities
Iowa
$529K – – –
BFA
42
Beacon Financial Advisory
Ohio
$470K -$1.97K -50 -0.4%
LF
43
Lantz Financial
Illinois
$408K – – –
AL
44
ACAS LLC
California
$407K +$13.8K +350 +3%
FIA
45
Foundations Investment Advisors
Arizona
$405K +$2.84K +72 +0.7%
DFA
46
DHJJ Financial Advisors
Illinois
$384K -$8.08K -205 -2%
BWM
47
BCS Wealth Management
Tennessee
$380K – – –
RPGK
48
Retirement Planning Group (Kansas)
Kansas
$372K – – –
Citadel Advisors
49
Citadel Advisors
Florida
$366K +$378K +9,583 New
Truist Financial
50
Truist Financial
North Carolina
$365K +$3K +76 +0.8%
1
2
3 4

BNOV Hedge Fund Activity: Q1 2025 in Review

83 of the 7,459 institutional investors tracked by Wall St. Rank reported a position in Innovator US Equity Buffer ETF November (BNOV) for Q1 2025, worth a combined $116M — down 10% from $129M a quarter earlier.

Fund positioning in BNOV was balanced in Q1 2025: 9 funds opened new positions, 9 closed out, 14 added to existing stakes and 28 trimmed.

The largest buyer was Penserra Capital Management, adding an estimated $2.66M. The largest seller was WealthPlan Investment Management, exiting entirely with an estimated $6.68M sold.

  • 83 institutional investors held Innovator US Equity Buffer ETF November (BNOV) as of Q1 2025, down from 84 in Q4 2024.
  • Funds reported $116M of Innovator US Equity Buffer ETF November stock for Q1 2025, down 10% quarter-over-quarter.
  • 9 funds opened new Innovator US Equity Buffer ETF November positions in Q1 2025 and 9 closed out, a net change of 0 holders.
  • The largest Innovator US Equity Buffer ETF November buyer in Q1 2025 was Penserra Capital Management, an estimated $2.66M added.
  • The largest Innovator US Equity Buffer ETF November seller in Q1 2025 was WealthPlan Investment Management, an estimated $6.68M sold.

Based on aggregated 13F filings for Q1 2025.